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Society is held hostage by a new plutocratic class—one that is addicted to accumulation and driving environmental destruction. If they are incapable of changing course, society will have to do it for them
Over the last decade, globally, the richest 1 per cent have taken about half of all new wealth, and in the two years to December 2021 it was two thirds—twice as much as the other 99 per cent—leaving the world’s 3,000 or so billionaires worth some $13tn. In other words, we are seeing an extraordinary concentration of wealth at a time when much of the population of rich countries such as the US and UK have seen stagnant or falling incomes.
https://www.prospectmagazine.co.uk/ideas/economics/63856/the-billionaire-problem
Over the last decade, globally, the richest 1 per cent have taken about half of all new wealth, and in the two years to December 2021 it was two thirds—twice as much as the other 99 per cent—leaving the world’s 3,000 or so billionaires worth some $13tn. In other words, we are seeing an extraordinary concentration of wealth at a time when much of the population of rich countries such as the US and UK have seen stagnant or falling incomes.
https://www.prospectmagazine.co.uk/ideas/economics/63856/the-billionaire-problem
